Tonni Shijun Xia

So similar, yet so different: comparing the US GAAP and IFRS experience at eliciting greater transparency on pension asset disclosures

Abstract We exploit two regulatory changes, one under US GAAP and the other under IFRS, that mandate improved disclosure of pension asset allocation. While the changes are otherwise similar, US GAAP retains the expected rate of return (“ERR”) on pension assets, which preparers ca...